The Bitcoin treasury firm Strategy (MSTR) has now stacked BTC for five weeks in a row, adding $22 million worth of the top crypto asset in the past seven days.
Strategy says it accumulated 267 Bitcoin at an average purchase price of $82,900 per BTC, stretching its total holdings to 848,517 BTC.
The firm added 3,199 Bitcoin in the four weeks leading up to that latest purchase, spending a total of $270 million.
The recent purchase follows a summer in which Strategy controversially conducted its first Bitcoin sales since 2022. Those sales materialized under the company’s newly introduced BTC monetization program, designed to bolster Strategy’s cash reserves and support dividend payments.
On Monday, Strategy chairman Michael Saylor also noted the firm repurchased $193 million worth of STRC, the firm’s perpetual preferred stock that pays 12.00% annual dividends. STRC is designed to have a par value of around $100 and is currently trading at $98.62.
Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate BTC holder by a wide margin.
Bitcoin is trading at $81,774 at time of writing. The top-ranked crypto asset by market cap is up more than 1% in the past 24 hours but down nearly 1.5% in the past week.
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The post Michael Saylor’s Strategy Buys Another $22,000,000 Worth of Bitcoin As Top Crypto Asset Tracks Sideways appeared first on The Daily Hodl.